9.3 SR 10-19-2020 - Laserfiche WebLink

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Government Building Fund Used for municipal building construction/maintenance, landscaping, and remodeling. The building maintenance supervisor and department directors identify needed building improvements and update annually. The landfill expansion fee, which will end in 2030, and interest earnings are the primary funding sources. The fund has covered the Public Works Facility debt service payments with the intent to gradually transition this to the tax levy. The proposed HVAC and lighting upgrades through the Apex energy efficiency audit to city facilities is a pending project that can be financed through this fund if Council so chooses. Park Improvement Fund Funds park and trail improvements with an annual transfer from the Municipal Liquor Fund. During budget review of the Liquor Fund, it was proposed to transfer $250,000 per year to the fund for annual park improvements. The projects identified by the Parks & Recreation Commission for 2021 include a lighted basketball court at County Crossing park and the tennis court replacement at Trott Brook park. Park Dedication Fund Recent plat development activity has increased revenues to about $516,800 as of 9/30/20. Along with a federal grant, the TH10 trail extension from Gary St. to Morton Ave. is planned for 2021. Also planned is the city's cost - share for the trail along CR 44. Pavement Management Fund/MSA A franchise fee on gas and electric utilities is the primary revenue source to provide long-term funding for city streets and parking lots. Municipal State Aid (MSA) is also utilized to fund portions of various street improvement projects. The maintenance portion (25%) of MSA offsets the cost of the sealcoating and smaller overlay preventative maintenance projects. MNDOT is estimating a 11-15% reduction in transportation funding for 2021. Street/Capital Improvement Fund Covers street and infrastructure improvements not included in the Pavement Management Fund. When the special assessment repayments end in 2023m interest earnings on the funds will be the only ongoing revenue source. Project financing for 2021 will include the Comprehensive Plan transportation study and a portion of the Hwy 169 frontage/backage road improvements. The Council may wish to utilize this fund for ongoing trail maintenance. Trunk Utility Fund This fund consists of special assessment revenue from water and sewer improvement projects. The funds will be used on trunk water and sewer improvement projects in the area for which the assessments were collected unless there is no further need in the existing area which can then be used in another area. These funds would be used in lieu of having to issue bonds on future system expansion/improvements. Projects include extending sewer services to Windsor Park III addition and relocating sewer utilities for the Hwy 169 project. Financial Impact N/A Mission/Policy/Goal Identify funding to develop a sustainable and prosperous community that reflects the culture of citizens and what is important to the majority. Attachments 0 2020-2025 Capital Improvement Plan